The decision to switch to local currencies in trading settlements
is a major move towards reducing dependence on the US dollar and
creating an alternative within the global financial system.

In May 2014 Russia and China announced a joint project for a
long-range aircraft worth $13 billion. The jet is expected to
occupy a large market share both in Russia and China challenging
Boeing and Airbus.

In February Russia and China agreed to cooperate on satellite
navigation. The two countries along with their BRICS partner
India are expected to discuss the creation of a joint orbiting
station at the BRICS summit in Ufa in April, according to experts
from Russian Military Industrial Commission.